Blockchain startup Tron acquires BitTorrent
“From this day on, BitTorrent, whose software has been installed on billions of user devices, will become part of the TRON ecosystem, making TRON the largest decentralized Internet ecosystem in the world,” Justin Sun, the founder of TRON announced.
According to TechCrunch, TRON bought BitTorrent for $140 million in cash.
Proud to announce @BitTorrent and @uTorrent are now part of the #TRON family. BitTorrent is supported by over 100M active users. Together we are building the future of the decentralized Internet! Stay tuned for updates #TRONBT $TRX @Tronfoundation https://t.co/mQQqUeOaHv pic.twitter.com/eSYY4lWsXI
— Justin Sun (@justinsuntron) July 24, 2018
BitTorrent will continue operating from TRON’s new San Francisco location, which is now the center of operations for the company’s global market expansion. The division “will provide robust support for TRON’s global business development and partnerships, while pursuing its vision for the world’s largest decentralized ecosystem”.
“With this acquisition, BitTorrent will continue to provide high quality services for over 100M users around the world. We believe that joining the TRON network will further enhance BitTorrent and accelerate our mission of creating an Internet of options, not rules,” Justin Sun stated.
TRON founder called BitTorrent the genesis of the decentralization movement and stated that BitTorrent acquisition embodies TRON’s “All-In Decentralization” strategy.
According to Sun, integration of BitTorrent will help TRON “to liberate the Internet from the stranglehold of large corporations, give data rights back to the individual, and reignite the early 21st century vision of a free, transparent, decentralized network to connect the world”.
Created in 2001, the BitTorrent protocol is a file sharing communications protocol based on a peer-to-peer network. It is the first decentralized Internet protocol with large-scale global application.